Bunker Fuel Market by Type (Residual Fuel Oil, Marine Diesel Oil, and Marine Gas Oil), Commercial Distributor (Oil Majors, Large Independent, and Small Independent), and End User (Container, Bulk Carrier, Oil Tanker, General Cargo, Chemical Tanker, Fishin

Global Bunker Fuel Market was valued at $97,203 million in 2016, and is expected to reach $142,489 million by 2023, registering a CAGR of 9.6% from 2017 to 2023. Bunker fuel is the fuel oil/gas delivered to ships of all states that are engaged in international navigation. The international navigation may take place via sea, on inland lakes & waterways, and in coastal waters. The two major bunker fuel classifications in the marine industry are distillates and residual fuel oils. Marine distillates are divided into marine gas oil (MGO) and marine diesel oil (MDO).

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The International Maritime Organizations regulations of sulfur cap of 0.50% m/m (mass/mass) in 2020 for marine fuels, and increase in ocean-borne trade, especially in ton-km travelled, are the factors that drive the growth of the global bunker fuel market. However, obsolete vessels has been replaced by more competent boats, which in turn is expected to drive the market. These effective improvements are probably going to balance to some degree the increments in trade. Key market players have adopted merger as their key strategy to widen their brand portfolios and expand their market reach.

The global bunker fuel market is segmented based on type, commercial distributor, end user, and geography. The type segment is classified into residual fuel oil, MDO, and MGO. On the basis of commercial distributors, the market is divided into oil majors, large independent, and small independent. By end user, it is categorized into container, bulk carrier, oil tanker, general cargo, chemical tanker, fishing vessel, gas tanker, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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In 2016, the MGO segment, in revenue terms, accounted for around one-fourth of the global bunker fuel market share. In terms of volume, MGO held approximately 17% share in the overall market. MGO is the most lucrative segment for investment in the global bunker fuel industry, owing to IMOs decision of implementing a sulfur cap of 0.50% on international shipping, as MGO contains 0.1% sulfur. Thus, this segment is anticipated to show high growth rate along with significant return on investment for the stakeholders, owing to its notable revenue contribution.

North America has the maximum potential for growth in the global bunker fuel market on account of being abundant in ultralow sulfur fuel oil (ULSFO) and MGO coupled with IMOs marine fuel directives for 2020. In Asia-Pacific, emerging markets such as China and South Korea are expected to witness highest demand for bunker fuel, owing substantial growth in marine trade.

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Major companies have adopted product development, expansion, and merger strategies to sustain the intense market competition. The key players profiled in the report include Aegean Marine Petroleum Network Inc., Bomin Bunker Oil Corp., BP PLC, Bunker Holding A/S, Chemoil Energy Ltd., Exxon Mobil, Gazprom Neft PJSC, GAC Bunker Fuels Ltd., KPI Bridge Oil A/S, and Royal Dutch Shell PLC.

Other market players (not profiled in report) in the value chain include Lukoil-Bunker OOO, World Fuel Services Corp., PetroChina Company Ltd., Dan-Bunkering Inc., Sentek Marine & Trading Pte, Ltd., Gulf Nederland, ChinaMarine Bunker Company Ltd., Shanghai Lonyer Fuels Co., Ltd., and Glander International Bunkering DMCC.

List of Tables

TABLE 1. GLOBAL BUNKER FUEL MARKET, BY TYPE, 2015-2023 ($MILLION)
TABLE 2. GLOBAL BUNKER FUEL MARKET, BY TYPE, 2015-2023 (MILLION TONNES)
TABLE 3. GLOBAL RESIDUAL FUEL OIL MARKET, BY TYPE, 2015-2023 ($MILLION)
TABLE 4. GLOBAL RESIDUAL FUEL OIL MARKET, BY TYPE, 2015-2023 (MILLION TONNES)
TABLE 5. GLOBAL RESIDUAL FUEL OIL MARKET, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 6. GLOBAL RESIDUAL FUEL OIL MARKET, BY GEOGRAPHY, 2015-2023 (MILLION TONNES)
TABLE 7. GLOBAL MDO MARKET, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 8. GLOBAL MDO MARKET, BY GEOGRAPHY, 2015-2023 (MILLION TONNES)
TABLE 9. GLOBAL MGO MARKET, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 10. GLOBAL MGO MARKET, BY GEOGRAPHY, 2015-2023 (MILLION TONNES)
TABLE 11. GLOBAL BUNKER FUEL MARKET, BY COMMERCIAL DITRIBUTOR, 2015-2023 ($MILLION)
TABLE 12. GLOBAL BUNKER FUEL MARKET, BY COMMERCIAL DITRIBUTOR, 2015-2023 (MILLION TONNES)
TABLE 13. GLOBAL BUNKER FUEL MARKET THROUGH OIL MAJORS, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 14. GLOBAL BUNKER FUEL MARKET THROUGH OIL MAJORS, BY GEOGRAPHY, 2015-2023 (MILLION TONNES)
TABLE 15. GLOBAL BUNKER FUEL MARKET THROUGH LARGE INDEPENDENT DISTRIBUTORS, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 16. GLOBAL BUNKER FUEL MARKET THROUGH LARGE INDEPENDENT DISTRIBUTORS, BY GEOGRAPHY, 2015-2023 (MILLION TONNES)
TABLE 17. GLOBAL BUNKER FUEL MARKET THROUGH SMALL INDEPENDENT DISTRIBUTORS, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 18. GLOBAL BUNKER FUEL MARKET THROUGH SMALL INDEPENDENT DISTRIBUTORS, BY GEOGRAPHY, 2015-2023 (MILLION TONNES)
TABLE 19. GLOBAL CONTAINER BUNKER FUEL MARKET, BY TYPE, 2015-2023 ($MILLION)
TABLE 20. GLOBAL CONTAINER BUNKER FUEL MARKET, BY TYPE, 2015-2023 (MILLION TONNES)
TABLE 21. GLOBAL BULK CARRIER BUNKER FUEL MARKET, BY TYPE, 2015-2023 ($MILLION)
TABLE 22. GLOBAL BULK CARRIER FUEL MARKET, BY TYPE, 2015-2023 (MILLION TONNES)
TABLE 23. GLOBAL OIL TANKER BUNKER FUEL MARKET, BY TYPE, 2015-2023 ($MILLION)
TABLE 24. GLOBAL OIL TANKER BUNKER FUEL MARKET, BY TYPE, 2015-2023 (MILLION TONNES)
TABLE 25. GLOBAL GENERAL CARGO BUNKER FUEL MARKET, BY TYPE, 2015-2023 ($MILLION)
TABLE 26. GLOBAL GENERAL CARGO BUNKER FUEL MARKET, BY TYPE, 2015-2023 (MILLION TONNES)
TABLE 27. GLOBAL CHEMICAL TANKER BUNKER FUEL MARKET, BY TYPE, 2015-2023 ($MILLION)
TABLE 28. GLOBAL CHEMICAL TANKER BUNKER FUEL MARKET, BY TYPE, 2015-2023 (MILLION TONNES)
TABLE 29. GLOBAL FISHING BUNKER FUEL MARKET, BY TYPE, 2015-2023 ($MILLION)
TABLE 30. GLOBAL FISHING BUNKER FUEL MARKET, BY TYPE, 2015-2023 (MILLION TONNES)
TABLE 31. GLOBAL GAS TANKER BUNKER FUEL MARKET, BY TYPE, 2015-2023 ($MILLION)
TABLE 32. GLOBAL GAS TANKER BUNKER FUEL MARKET, BY TYPE, 2015-2023 (MILLION TONNES)
TABLE 33. GLOBAL OTHER VESSEL BUNKER FUEL MARKET, BY TYPE, 2015-2023 ($MILLION)
TABLE 34. GLOBAL OTHER VESSEL BUNKER FUEL MARKET, BY TYPE, 2015-2023 (MILLION TONNES)
TABLE 35. GLOBAL BUNKER FUEL MARKET, BY GEOGRAPHY, 2015-2023 ($MILLION)
TABLE 36. GLOBAL BUNKER FUEL MARKET, BY GEOGRAPHY, 2015-2023 (MILLION TONNES)
TABLE 37. NORTH AMERICA BUNKER FUEL MARKET, BY TYPE, 2015-2023 ($MILLION)
TABLE 38. NORTH AMERICA BUNKER FUEL MARKET, BY TYPE, 2015-2023 (MILLION TONNES)
TABLE 39. NORTH AMERICA BUNKER FUEL MARKET, BY COMMERCIAL DITRIBUTOR, 2015-2023 ($MILLION)
TABLE 40. NORTH AMERICA BUNKER FUEL MARKET, BY COMMERCIAL DITRIBUTOR, 2015-2023 (MILLION TONNES)
TABLE 41. NORTH AMERICA BUNKER FUEL MARKET, BY COUNTRY, 2015-2023 ($MILLION)
TABLE 42. NORTH AMERICA BUNKER FUEL MARKET, BY COUNTRY, 2015-2023 (MILLION TONNES)
TABLE 43. U.S. BUNKER FUEL MARKET, BY TYPE, 2015-2023 ($MILLION)
TABLE 44. U.S. BUNKER FUEL MARKET, BY TYPE, 2015-2023 (MILLION TONNES)
TABLE 45. U.S. BUNKER FUEL MARKET, BY COMMERCIAL DITRIBUTOR, 2015-2023 ($MILLION)
TABLE 46. U.S. BUNKER FUEL MARKET, BY COMMERCIAL DITRIBUTOR, 2015-2023 (MILLION TONNES)
TABLE 47. CANADA BUNKER FUEL MARKET, BY TYPE, 2015-2023 ($MILLION)
TABLE 48. CANADA BUNKER FUEL MARKET, BY TYPE, 2015-2023 (MILLION TONNES)
TABLE 49. CANADA BUNKER FUEL MARKET, BY COMMERCIAL DITRIBUTOR, 2015-2023 ($MILLION)
TABLE 50. CANADA BUNKER FUEL MARKET, BY COMMERCIAL DITRIBUTOR, 2015-2023 (MILLION TONNES)
TABLE 51. MEXICO BUNKER FUEL MARKET, BY TYPE, 2015-2023 ($MILLION)
TABLE 52. MEXICO BUNKER FUEL MARKET, BY TYPE, 2015-2023 (MILLION TONNES)
TABLE 53. MEXICO BUNKER FUEL MARKET, BY COMMERCIAL DITRIBUTOR, 2015-2023 ($MILLION)
TABLE 54. MEXICO BUNKER FUEL MARKET, BY COMMERCIAL DITRIBUTOR, 2015-2023 (MILLION TONNES)
TABLE 55. EUROPE BUNKER FUEL MARKET, BY TYPE, 2015-2023 ($MILLION)
TABLE 56. EUROPE BUNKER FUEL MARKET, BY TYPE, 2015-2023 (MILLION TONNES)
TABLE 57. EUROPE BUNKER FUEL MARKET, BY COMMERCIAL DITRIBUTOR, 2015-2023 ($MILLION)
TABLE 58. EUROPE BUNKER FUEL MARKET, BY COMMERCIAL DITRIBUTOR, 2015-2023 (MILLION TONNES)
TABLE 59. EUROPE BUNKER FUEL MARKET, BY COUNTRY, 2015-2023 ($MILLION)
TABLE 60. EUROPE BUNKER FUEL MARKET, BY COUNTRY, 2015-2023 (MILLION TONNES)
TABLE 61. UK BUNKER FUEL MARKET, BY TYPE, 2015-2023 ($MILLION)
TABLE 62. UK BUNKER FUEL MARKET, BY TYPE, 2015-2023 (MILLION TONNES)
TABLE 63. UK BUNKER FUEL MARKET, BY COMMERCIAL DITRIBUTOR, 2015-2023 ($MILLION)
TABLE 64. UK BUNKER FUEL MARKET, BY COMMERCIAL DITRIBUTOR, 2015-2023 (MILLION TONNES)
TABLE 65. GERMANY BUNKER FUEL MARKET, BY TYPE, 2015-2023 ($MILLION)
TABLE 66. GERMANY BUNKER FUEL MARKET, BY TYPE, 2015-2023 (MILLION TONNES)
TABLE 67. GERMANY BUNKER FUEL MARKET, BY COMMERCIAL DITRIBUTOR, 2015-2023 ($MILLION)
TABLE 68. GERMANY BUNKER FUEL MARKET, BY COMMERCIAL DITRIBUTOR, 2015-2023 (MILLION TONNES)
TABLE 69. FRANCE BUNKER FUEL MARKET, BY TYPE, 2015-2023 ($MILLION)
TABLE 70. FRANCE BUNKER FUEL MARKET, BY TYPE, 2015-2023 (MILLION TONNES)
TABLE 71. FRANCE BUNKER FUEL MARKET, BY COMMERCIAL DITRIBUTOR, 2015-2023 ($MILLION)
TABLE 72. FRANCE BUNKER FUEL MARKET, BY COMMERCIAL DITRIBUTOR, 2015-2023 (MILLION TONNES)
TABLE 73. ITALY BUNKER FUEL MARKET, BY TYPE, 2015-2023 ($MILLION)
TABLE 74. ITALY BUNKER FUEL MARKET, BY TYPE, 2015-2023 (MILLION TONNES)
TABLE 75. ITALY BUNKER FUEL MARKET, BY COMMERCIAL DITRIBUTOR, 2015-2023 (MILLION TONNES)
TABLE 76. SPAIN BUNKER FUEL MARKET, BY TYPE, 2015-2023 ($MILLION)
TABLE 77. SPAIN BUNKER FUEL MARKET, BY TYPE, 2015-2023 (MILLION TONNES)
TABLE 78. SPAIN BUNKER FUEL MARKET, BY COMMERCIAL DITRIBUTOR, 2015-2023 ($MILLION)
TABLE 79. SPAIN BUNKER FUEL MARKET, BY COMMERCIAL DITRIBUTOR, 2015-2023 (MILLION TONNES)
TABLE 80. REST OF EUROPE BUNKER FUEL MARKET, BY TYPE, 2015-2023 ($MILLION)
TABLE 81. REST OF EUROPE BUNKER FUEL MARKET, BY TYPE, 2015-2023 (MILLION TONNES)
TABLE 82. REST OF EUROPE BUNKER FUEL MARKET, BY COMMERCIAL DITRIBUTOR, 2015-2023 ($MILLION)
TABLE 83. REST OF EUROPE BUNKER FUEL MARKET, BY COMMERCIAL DITRIBUTOR, 2015-2023 (MILLION TONNES)
TABLE 84. ASIA-PACIFIC BUNKER FUEL MARKET, BY TYPE, 2015-2023 ($MILLION)
TABLE 85. ASIA-PACIFIC BUNKER FUEL MARKET, BY TYPE, 2015-2023 (MILLION TONNES)

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